Emart24 is accelerating its business in Cambodia, increasing its local stores to 31 just two years after entering the market. It also doubled its original opening target of "100 stores in five years" to 200.
Emart24 said on the 14th that it held a "2nd anniversary event for entry into Cambodia" at the Shangri-La Hotel Phnom Penh on the 12th, with about 100 people in attendance, including local media and key figures.
Emart24 is the first Korean convenience store company to enter Cambodia. It signed a master franchise agreement with local joint venture "Saihan Partners" and began full-scale operations in 2024. After expanding stores mainly in the capital, Phnom Penh, it opened a store in Siem Reap, the second city where Angkor Wat is located, in July, and on the 1st of this month it opened its 31st store in Battambang, the third city. Twenty stores are currently under construction, and 43 more have completed contracts and are preparing to break ground. Emart24 plans to operate more than 70 stores by year-end.
Cambodia does not yet have a convenience store brand operating more than 60 stores. If Emart24 reaches 70 stores within the year, it will become the No. 1 local brand.
Performance is also improving. Cambodia's average daily sales this year rose 41% from 2024, when it first entered, and the number of customers increased 17%. The Battambang store that opened this month posted about 10 million won in sales on opening day. The average daily sales and customer count at Cambodian stores are about twice those of Emart24 stores in Korea.
The company said its localization strategy worked, selling K-food such as tteokbokki, cup rice and fish cakes, and installing ramen cookers in stores so customers can boil ramen themselves. By selling coffee and smoothies together, it has positioned itself as a "convenience store like a restaurant and café."
Lee Seong-min, who oversees Emart24's overseas business, said, "We will build a business that grows together with our Cambodian partners by actively hiring local talent and discovering and sourcing a variety of local products."